Time To Convert Bitcoin To Ethereum? ETH/BTC Charts Gears Up For 180% Surge

Scott Matherson

9 months ago

3 mins read

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Crypto investors may need to start paying attention to Ethereum (ETH), as the cryptocurrency’s price could be gearing up for a major rally against Bitcoin. A crypto analyst predicts a potential 180% surge in the ETH/BTC trading pair, signaling that now might be an opportune time for investors to consider converting their BTC holdings to Ethereum.

Time To Swap Bitcoin For Ethereum

The price of Ethereum has been in such a significant bearish trend over the past few months that analysts have labeled it “the ultimate shitshow of this cycle.” Despite the launch of Spot Ethereum Exchange Traded Funds (ETFs), the market sentiment for ETH remains low, and its price continues to fluctuate.

Taking Ethereum’s price slump into consideration, a crypto analyst identified as ‘CryptoBullet,’ has declared that investors are now entering the final stage of the ETH/BTC bear market. As such, the analyst predicts a 180% surge for ETH/BTC, highlighting that it may be time for investors to begin swapping their Bitcoin for Ethereum to capitalize on ETH’s anticipated price rebound potentially.

On September 12, the analyst took to X (formerly Twitter) to discuss his observations about the ETH/BTC trading pair on the monthly chart. CryptoBullet pointed out that the ETH/BTC monthly chart highlights a longstanding recurring trend in ETH/BTC price movements over the years.

This recurring pattern is characterized by a testing phase, followed by a breakdown and accumulation period before a pump to new highs. CryptoBullet has identified this unique trend in past cycles, including between 2016 and 2017 before a major rally, again from 2018 to 2021, and now from 2022 with expectations of a strong price rebound extending into 2025.

With 2022 acting as the testing phase, and 2024 marked by an accumulation and breakdown period, CryptoBullet forecasts that the price of Ethereum relative to Bitcoin could climb to $0.0885 or $0.11. This suggests that by 2025, the price of one Ethereum may be worth around $5,109 or $6,351.

New Bullish Targets Unveiled For ETH

‘TopGcrypto,’ a crypto analyst on X has predicted that Ethereum could see a price increase to new levels before the end of the year. The analyst disclosed that Ethereum is currently experiencing strong price movements and approaching a key resistance trend line.

Sharing an Ethereum price chart showing its movements from July to September, TopGcrypto pointed out that the crucial resistance level is around the $3,115 price level. He indicated that if Ethereum’s price can surpass this critical trend line, it could signal a good opportunity for investors to consider going long on the cryptocurrency.

According to the analyst, such a breakout could potentially drive the price of Ethereum toward new targets of $2,560, $2780, and $3,115. It’s important to note that as of writing, the price of Ethereum is trading at $2,338, according to CoinMarketCap.

Ethereum price chart from Tradingview.com (Bitcoin) — ETH bears push price back | Source: ETHUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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